Most Popular
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Psy's touch or new trend in music? P Nation’s solo stars lose their shine
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Seoul to hold grand military parade on Tuesday, disrupting major city routes
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Park Zi-a, the actor who played 'The Glory' heroine's mother, dies
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Shut up and dance
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NewJeans fans corner Hybe amid PR backlash, looming National Assembly audit
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Israel targets Palestinian group in first strike on Beirut center
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Brit pop legend Oasis to perform in Seoul next year
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BTS’ Suga fined W15m for e-scooter DUI
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[KH Explains] Is Hyundai-GM partnership win-win to beat Tesla, Chinese rivals?
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Court rules Itaewon tragedy was 'foreseeable'
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Defense Minister says THAAD deployment needs consideration
Defense Minister Han Min-koo said Monday South Korea needs to consider the deployment of the U.S.' advanced defense system THAAD, reflecting growing security threats from North Korea's emerging nuclear and missile capabilities. "Speaking from the military's perspective, there's enough need to review it because our (defense) capabilities are limited," the defense minister said during his appearance in a news program by MBC, a mainstream broadcasting channel."The issue of THAAD should be considere
DefenseJan. 25, 2016
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[Newsmaker] Rouhani starts first post-sanctions tour
Iranian President Hassan Rouhani arrives Monday in Italy, beginning his first European tour since a nuclear deal saw sanctions lifted against the Islamic Republic.The visit, whose chief aim is to boost economic ties and which will see Rouhani visit France later this week, had been planned for last November but was cancelled after the deadly jihadist attacks in Paris. Iranian President Hassan Rouhani (AP-Yonhap)The three-day trip comes a week after Tehran's deal with world powers came into force
World NewsJan. 25, 2016
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Jaguar launches new XJ luxury sports sedan
Jaguar’s director of design Ian Callum presents the new Jaguar XJ to the press on Monday at Dongdaemun Design Plaza in downtown Seoul. Jaguar Land Rover KoreaBritish luxury carmaker Jaguar Land Rover on Monday launched the all-new XJ, the facelift version of its signature sports sedan XJ. “The New Jaguar XJ drives wonderfully, beautifully, and brings Jaguar to a whole new level,” declared Ian Callum, Jaguar’s director of design, at the launching event held at Dongdaemun Design Plaza in downtown
MobilityJan. 25, 2016
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Celltrion heralds new era for Korean pharmaceuticals
This is the first in a series of articles analyzing the top 10 companies by market capitalization traded on the tech-heavy KOSDAQ stock market. ― Ed. Celltrion’s biosimilar drug Remsima, based on Johnson & Johnson and Merck & Co.’s anti-inflammatory biologic drug Remicade. (Celltrion)Hot stocks on KOSDAQ, the Korean equivalent of the U.S.’ Nasdaq, often hold hints of where the future lies for Korea Inc.Back in 1996, when the bourse first opened as the market for innovative tech firms, the compan
Jan. 25, 2016
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Samsung SDI shareholders agree to spin-off
Samsung SDI shareholders on Monday agreed to spin off the company’s chemicals business into a new affiliate called SDI Chemical, that will be sold to Lotte Chemical within the first half of this year. The battery-making unit of Samsung Group said it will focus more on its flagship business to cater to electric vehicles. Samsung SDI CEO Cho Nam-seong told shareholders the company would invest 3 trillion won ($2.5 billion) into the electric vehicle battery business over the next five years.The sha
TechnologyJan. 25, 2016
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Samsung unfazed by Haier-GE deal
Samsung Electronics on Monday said that Haier’s recent purchase of General Electric’s home appliance business would have a limited impact on its businesses in the U.S. and globally. “We see no immediate threat. Our strategy in the U.S. market is different from those of Haier and GE,” said Samsung’s home appliance chief Seo Byung-sam at a new product launch event held at the Seoul headquarters. According to industry sources, the Korean tech giant, as well as its local rival LG Electronics, had tr
TechnologyJan. 25, 2016
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FTC targets CJ owner family-related business
JS Communications, fully-owned by Lee Jae-hwan, the chairman of CJ Group’s younger brother, is being investigated by the Fair Trade Commission over deals with its sister firm CJ CGV, according to industry sources Monday. JS Communications, the screen advertising arm of the nation’s food and entertainment giant, has offered services to CJ CGV, the nation’s largest multiplex cinema chain, since its foundation in 2005. “We can only confirm that officials from the Fair Trade Commission c
Jan. 25, 2016
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Airport, airlines blasted over blizzard
SEOUL/JEJUDO ISLAND -- A nearly three-day airport shutdown on the southern resort island of Jejudo due to heavy snowfall and strong winds ended Monday afternoon, with mounting questions over a lackadaisical response by the airport authorities and air carriers that failed to minimize customer inconvenience at times of natural disasters. Travelers wait on the floor at Jeju International Airport`s passenger terminal early Monday. (Yonhap)As of 2:48 p.m., air carriers had started to transport passe
IndustryJan. 25, 2016
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[Editorial] Simply incapable
The child care crisis touched off by budget blockades at child care centers and kindergartens shows how public officials, elected and appointed alike, are incapable and irresponsible. Now the crisis that had been brewing over the past few months is beginning to have a direct impact on the nation’s free child care system that covers children aged 3-5, commonly called the “Nuri Program.” Under the most severe threat are children in Seoul and Gyeonggi, Gwangju and South Jeolla provinces, where a
EditorialJan. 25, 2016
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[Editorial] Hardly creative
President Park Geun-hye called her proposal for five countries to hold a separate meeting on denuclearizing North Korea a “creative approach.” To start with, it is flatly wrong to call it “creative” because the idea has been floated in the past. And this time, too, the proposal, which Park made last Friday in a meeting with her key security and foreign policy aides, is likely to remain merely a proposal, as the countries concerned do not seem enthusiastic about it. Perhaps bearing possible skep
EditorialJan. 25, 2016
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Dongbu Steel sale delayed due to lack of buyers
The sale of Dongbu Steel, the faltering steelmaking affiliate of South Korea’s Dongbu Group, is expected to be delayed as no visible candidates have emerged for the takeover deal. Both POSCO and Hyundai Steel -- who were widely expected to bid -- have recently backed out, and its main creditor Korea Development Bank is facing difficulties in finding a suitable buyer. KDB, in charge of the sale alongside Nomura Securities, has reportedly contacted companies overseas, including in China, without v
IndustryJan. 25, 2016
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[Mohamed A. El-Erian] New mindset for global economy
As companies and investors painfully discovered in 2008, liquidity can be most elusive when you need it most. Going forward, for both structural and operational reasons, there is every reason to believe that liquidity will become quite patchy when markets encounter the next major air pocket. The turmoil of recent weeks provided a vivid illustration that the global economy and financial markets are undergoing two transitions. The first has to do with the shift from a prolonged regime of repressed
ViewpointsJan. 25, 2016
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[Trudy Rubin] U.S.-Iran relations unchanged
Now that the Iran nuclear deal is a done deal, what next? More quickly than expected, Tehran has dismantled large portions of its nuclear program, leading to the lifting of the sanctions imposed on its nuclear activities. Contrary to the critics, this deal does make the Mideast safer -- for now. But it also raises the controversial question of whether the deal will trigger a broader shift in U.S.-Iranian relations. The quick release of 10 U.S. sailors who strayed into Iranian waters and a prison
ViewpointsJan. 25, 2016
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Korean man gets suspended sentence for rumors about sunken warship
A Seoul court on Monday sentenced a man to eight months in prison for spreading rumors about the deadly sinking of a South Korean warship.Still, the Seoul Central District Court suspended the sentence for Shin Sang-chul for two years, meaning that he will not have to serve prison time if he stays out of trouble during that period.The court ruled that Shin defamed military officials by posting false information on the Internet that South Korea delayed the recovery of its warship the Cheonan to bu
Social AffairsJan. 25, 2016
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Seoul court upholds censure of unethical TV drama
The Seoul Administrative Court on Monday upheld the broadcasting watchdog's censure of a TV drama embroiled with immorality and violent language.The court ruled as "fair and legitimate" the Korea Communications Commission (KCC)'s punitive actions against MBC's drama series "Apgujeong Midnight Sun" which was aired from October 2014 to May last year. The terrestrial broadcasting company filed litigation with the Seoul court last year after the broadcasting commission censured those involved in the
Social AffairsJan. 25, 2016
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Seoul shares end higher on eased global woes
South Korean stocks closed higher Monday as major economies' pledge to extend stimulus measures and rising oil prices eased concerns over a global downturn. The local currency closed higher against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) added 14 points, or 0.74 percent, to end at 1,893.43. Trade volume was moderate at 311.41 million shares worth 4.01 trillion won ($3.36 billion), with winners beating losers 622 to 188.After going through a seesaw week, local shar
Jan. 25, 2016
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Jeju Airport resumes operations after near 2-day shutdown
Jeju International Airport on South Korea's southernmost resort island resumed operations Monday after being shut down by heavy snow for some 45 hours, the government said. The Ministry of Land, Infrastructure and Transport said an Eastar Jet B737-700 passenger jet with 149 people on board took off safely at 2:48 p.m. after ground service personnel cleared the runway and removed ice and snow from the aircraft.About 36 minutes later, a Korean Air B747-400 with 404 people on-board departed for Seo
Social AffairsJan. 25, 2016
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[Foreigners Who Loved Korea] Stanley H. Martin, benefactor of the independence movement
In Korea’s turbulent path toward independence and nation building, there were foreign nationals who stood steadfastly by the Korean people, although their contributions have been largely overshadowed by those of Korean patriots. The Korea Herald, in partnership with the Independence Hall of Korea, is publishing a series of articles shedding light on these foreigners, their life and legacies here. This is the eighth installment. ― Ed.Stanley H. Martin was a medical missionary dispatched to Korea
CultureJan. 25, 2016
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Exim Bank chief downplays woes over financial health
The chief of South Korea's state-run trade bank played down growing concerns over the lender's financial soundness Monday, claiming a recent fall in its capital adequacy ratio is a necessary and inevitable result of state policies aimed at boosting economic growth.The Export-Import Bank of Korea (Exim Bank) has been under criticism the bank is trapped in moral hazard after the government injected over 1.1 trillion won ($921 million) in fresh funds last year."The most difficult issue while workin
Jan. 25, 2016